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What is the amount of net income

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Question - As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $930,000 and liabilities of $340,000.  During Year 2, stockholders invested an additional $70,000 and received $30,000 in dividends from the business. What is the amount of net income during Year 2, assuming that as of December 31, Year 2, assets were $975,000 and liabilities were $250,000?

Reference no: EM133147556

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